potential tentant's realtor wants his tenants approved

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potential tentant's realtor wants his tenants approved

Luke H.
Real Estate Investor · Dallas, TX · Member since 2013 · 388 posts · 174 votes
I looked over tenants job history and they just started their jobs.
I sent a standard we will not be moving forward message.
Realtor asked if I could be more specific. I explained we are looking for stable income and longer work history.
Realtor explains that 1 of the applicants has 2 jobs and that his tenants meet the income requirements. I did not notice on the their application that they have 2 jobs.   The other applicant just started their job 2 months ago.
I've already started processing another application.

Advice on letting this realtor know I won't be moving forward with these tenants?
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Bjorn AhlbladPro Member
Investor · Shelton, WA · Member since 2017 · 6k+ posts · 6k+ votes
3y

@Luke H.  You already let the realtor know. Leave it at that. Never let anyone 'sell' you on a potential tenant. All the best!

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  • Bjorn AhlbladPro Member
    Investor · Shelton, WA · Member since 2017 · 6k+ posts · 6k+ votes
    3y

    @Luke H.  You already let the realtor know. Leave it at that. Never let anyone 'sell' you on a potential tenant. All the best!

    5Reply
  • Rosa Regier
    Investor · Austin, TX · Member since 2015 · 73 posts · 54 votes
    3y

    Along with a blank application, ensure that your qualification requirements are made available to all applicants. This gives an applicant an opportunity to save the application fee for a property where they do qualify. It also keeps you from wasting your time processing applicants that have no chance of qualifying.

    If you stated that you require a work history of x months in the same line of work and it's not met, then you have justifiably declined the applicant based on your stated requirements. If it's not stated then the Realtor may have a point.

    Perhaps you simply stated that the applicant must demonstrate an income that's 3 times the rent and no mention of a minimum length of employment. If these applicants do in fact satisfy the requirement along with any others you have stated. Then the Realtor is correct in that they should be approved otherwise this may appear to be a discriminatory practice.  I'm certain that this is not your intention - you simply want assurances. You could ask for a guarantor - this is all up to you to offer and for the applicant to accept. Do this only if this is a practice that you would put in place - the key here is that you are consistent in processing all of your applications (have you always looked at length of employment).

    Having said all of that - you only need to decline an applicant in writing once. Simply make sure you followed the same requirements that you use to process each and every applicant (I can't say this enough).

    Good luck.

    2Reply
  • Richard F.
    Honolulu, HI · Member since 2008 · 3k+ posts · 2k+ votes
    3y
    Aloha,

    PRIVACY PLEASE! You should not be discussing someones credit/background with someone else unless you have a written release from the applicant. Do you expect the Realtor will provide you a personal guarantee for the applicant?
    1Reply
  • Luke H.
    OP
    Real Estate Investor · Dallas, TX · Member since 2013 · 388 posts · 174 votes
    3y

    @Richard F., @Rosa Regier, @Bjorn Ahlblad
    First, thank you for your responses.
    - Do I have the right to refuse to work with specific real-estate agents and/or agencies?
    - It is 3 applicants. So if 1 person doesn't qualify then I don't need to rent to any of them?
    - Can I and how do I limit the number of occupants?

    - I read over the applications before sending SmartMove requests, so they weren't charged anything.
    - I plan to add update the qualifications.
    - I don't plan to respond again.
    - I usually don't send a follow up response. The only reason I did this time was because I wanted to be helpful. 


    1Reply
  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    3y

    Once they are referred to you, the only comment to the REALTOR is "approved" or "denied." The details should be shared with the applicant only.
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    2Reply
  • Eliott Elias
    Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
    3y

    Yeah, just tell her you won't be moving forward. Am I missing something? 

    2Reply
  • Patricia Steiner
    Real Estate Broker · Hyde Park Tampa, FL · Member since 2019 · 2k+ posts · 3k+ votes
    3y

    The right response is always:  we're moving forward with a more qualified candidate.  The realtor wants/needs a payday...you need a quality tenant.  Move on and don't look back.  Block the realtor if you have to do so...it's your business and you're running it just fine.

    2Reply
  • David Ramirez
    Investor · Tampa, FL · Member since 2019 · 1k+ posts · 1k+ votes
    3y

    I would say something along these lines "Thank you for your interest, but after reviewing the application and our rental criteria, we have decided not to move forward with these tenants. We have already started processing another application. Thank you for your understanding.

    1Reply
  • Ned J.Pro Member
    Investor · Manteca, CA · Member since 2017 · 1k+ posts · 2k+ votes
    3y

    The RE agent gets paid to place their customer... they dont give a rats a$$ what happens after that.... do not let the RE sell you a tenant. 

    1Reply
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